Pompano Beach Real Estate values have appreciated by about 6% in 2020, and are forecast to appreciate by almost another 6% in 2021 according to Zillow.
Some mighty think that we are in another Housing Bubble just like we saw in 2008.
However, we at Pompano Beach Realty believe the opposite to be true.
We outline 3 reasons why the Pompano Beach Real Estate market is totally different this time around.
1. The Housing supply is extremely limited
As you surely know, Real Estate Prices are determined by supply and demand. When there is a high supply of Pompano Beach Real Estate Sellers wanting to sell and there is low demand from buyers looking t purchase, Real Estate prices in Pompano Beach an elsewhere usually decrease.
And the opposite seems to hold true when there are few properties for sale and many buyers are looking to swoop up Real Estate in Pompano Beach, home prices tend to increase.
Supply and demand in the Real Estate world are measured in months supply of inventory.
A “normal’ number of months of real estate inventory is around 6 months.
If the supply is longer than 6 months, usually indicates a buyers’ market in which home prices tend to decrease and again the opposite seems to hold true for a supply less than 6 months. This indicates a sellers […]